IMPS Switching Services

IMPS (Immediate Payment Service) is an instant, 24×7, interbank, electronic fund transfer service through mobile phones. IMPS facilitates use of mobile instrument as a channel for accessing bank accounts – thereby, enabling interbank fund transfers in a highly secured manner (with immediate confirmation). This facility is provided by National Payments Corporation of India.

Our continued endeavour in providing cost-effective technology based payment solutions and to serve an instant payment trend requirement has resulted in the creation of Sarvatra® IMPS Switch. Sarvatra® IMPS Switch is available for outright sale to banks. Sarvatra also offers IMPS Switching Services to Banks with existing CBS hosts.

In 2014, we pioneered the deployment of the IMPS Credit Facility service (under NPCI’s sub-membership model) at The Pandharpur Merchant Cooperative Bank (see the 1st IMPS Implementation certificate). We’ve also earned the credit of deploying an ward-wining IMPS Switch for ICICI Bank, one of the largest private banks in the country (see case study).

sarvatra imps switch

Fully tested and operational for more than three years. ICICI Bank, a major player in IMPS, uses Sarvatra® IMPS Switch for all types of IMPS transactions across all delivery channels.

As per NPCI guidelines, the IMPS switch has been benchmarked to support 150 TPS (transactions per second). Based on first 6 months’ data, 3.5 Lac transactions per day were processed at ICICI Bank through Sarvatra IMPS Switch.

Multiple messaging protocol acceptance.

Certified by NPCI for all IMPS services.

Ease in MIS structure, with customized/tailor-made reports through the Switch’s web-based user interface.

Availability of Reconciliation Module.

market share

Sarvatra

Others

30% of the total IMPS transaction volume in India is being delivered through Sarvatra IMPS Switch.

I am happy with the pace of work (in developing the UPI solution for ICICI Bank). It is also very encouraging the way you are tracking the progress. I am more confident that we can meet the deadline successfully.